Boomers got rich off real estate, and this generation will get rich off memecoins. Each generation has its hyper-efficient wealth-creation vehicle, and for anybody who missed the memo, it is all happening in the crypto world. One meme trader turns an $8.9 million profit in one hour, causing outcries of insider trading while organic projects continue to flourish.
All that glitters is not gold, and looking at Shroom ($SHROOM) versus Galaxy Fox ($GFOX) tells investors everything they need to know. $GFOX could be the biggest meme launch of 2024, and anybody asking what crypto to buy today needs to investigate Galaxy Fox and learn the difference between distributed ownership and insider wallets.
Shroom ($SHROOM) – Insider Trading?
Memecoins are in, and billions of dollars are trading hands daily on on-chain order books. Shroom appeared from nowhere, generating a massive trading volume as investors speculated on this mushroom-themed token before the rug was pulled out from under them.
On-chain analytics firm Lookonchain did what it does best and found that one wallet spent 6,000 $SOL in the same block where the token contract deployer added liquidity. Slightly suspicious. This wallet then sold, wrecking the chart and later investors pocketing 57,112 $SOL in the process. Several transactions, one hour of waiting, and $8.9 million in profit. Not a bad day’s work. Is $SHROOM a top crypto to buy now? Absolutely not.
This is a classic example of insider trading, and the wallet in question was likely the dev, a wallet controlled by the dev, or an associate. Discovering the best cryptocurrencies to buy in the meme space involves understanding wallet ownership, so investors are increasingly turning to more traditional presales.
Galaxy Fox ($GFOX) Biggest Meme Launch of 2024
Galaxy Fox has emerged as a massive net beneficiary of bad actors in the memecoin space. It is becoming the default answer to what crypto to buy today for anybody searching for a high-caliber project. The traditional presale method is pulling ahead; $GFOX’s total raise has already shot past $5.2 million.
With 70% of tokens allocated to presale buyers and following a Fair Launch mechanism, new buyers do not have to worry about bad actors sniping tokens in the deployment block. Best of all, investors still have a narrow window to dive into this presale before its retail launch. But why has Galaxy Fox been called the top crypto to invest in this quarter and the biggest meme launch of 2024?
Memecoins are dominating the cycle, and GameFi is the second leading narrative. Galaxy Fox blends both in its hybrid model and unlocks all the classic upside of a meme project but additionally incorporates a play-to-earn game. Its endless runner will provide unlimited fun to players worldwide, and each of these players has a shot at winning part of the seasonal prize pool.
Web3 business models naturally outpace Web2 primarily because of token incentives. Galaxy Fox having a thriving P2E at the core of its ecosystem that pays out prizes will encourage a constant influx of users. All of this ecosystem activity feeds value back to stakers thanks to Galaxy Fox’s staking rewards program, and joining this gem early is the winner’s move.
Closing Thoughts: Getting Into the Presale Early
Investors cannot ignore ownership metrics when considering what crypto to buy today. Too many memecoins launched directly on-chain have insider wallets, and the space is reverting back to conventional presales — especially Fair Launch ICOs like Galaxy Fox.
Investors should already be aware that becoming an early adopter in a meme project before it launches on the open market is a dynamite value proposition in the current market conditions. Get involved in the Galaxy Fox ICO today!
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